Vulcan Company's contribution format income statement for June is as follows: Vulcan Company Income Statement For the Month Ended June 30 Sales Variable expenses Contribution margin Fixed expenses Net operating income Management wants to improve profits and gathered the following data: a. The company is divided into two sales territories-Northern and Southern. The Northern Territory recorded $400,000 in sales and $220,000 in variable expenses during June; the remaining sales and variable expenses were recorded in the Southern Territory. Fixed expenses of $156,000 and $100,000 are traceable to the Northern and Southern Territories, respectively. The rest of the fixed expenses are common to the two territories. $ 800,000 300,000 500,000 475,000 $ 25,000 b. The company is the exclusive distributor for two products-Paks and Tibs. Sales of Paks and Tibs totaled $100,000 and $300,000, respectively, in the Northern territory during June. Variable expenses are 25% of the selling price for Paks and 65% for Tibs. Cost records show $45,000 of the Northern Territory's fixed expenses are traceable to Paks and $75,000 to Tibs, with the remainder common to the two products. Required: 1-a. Prepare contribution format income statements for the total company segmented by sales territories. 1-b. Prepare contribution format income statements for the Northern Territory segmented by product line. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Prepare contribution format income statements for the Northern Territory segmented by product line. Note: Round the percentage answers to one decimal place (i.e .1234 should be entered as 12.3). Sales Variable expenses Contribution margin Traceable fixed expenses Product line segment margin Common fixed expenses Sales territory segment margin Northern Territory % Amount $ $ 400,000 220,000 180,000 120,000 60,000 36,000 24,000 0.0 0.0 $ 0.0 Required 1A Paks Amount $ 100,000 25,000 75,000 45,000 30,000 Product Line % Required 1P 0.0 Amount Tibs $ 300,000 195,000 105,000 75,000 30,000 0.0 $ % 0.0 0.0